Income Tax Refunds: Over 2.24 Crore Taxpayers Received Over Rs 2 Lakh Crore

Quick Summary

The Income Tax Department has announced that it issued refunds totalling over Rs 2.13 lakh crore to more than 2.24 crore taxpayers. This period covers 1st April 2020 to 22nd March 2021. The refunds were split between individual income tax and corporate tax.

The Income Tax Department, via their official Twitter handle, has released the figures of Income Tax Refunds made between 1st April 2020 and 22nd March 2021. Know the amount of total refund and its bifurcation below:

Income Tax Refunds: Over 2.24 Crore Taxpayers Received Over Rs 2 Lakh Crore

CBDT issues refunds of over Rs. 2,13,823 crore to more than 2.24 crore taxpayers between 1st April,2020 to 22nd March,2021. Income tax refunds of Rs. 79,483 crore have been issued in 2,21,92,812 cases & corporate tax refunds of Rs. 1,34,340 crore have been issued in 2,22,188 cases.

FAQ :

More than 2.24 crore taxpayers received refunds.

The total amount of refunds issued was over Rs 2,13,823 crore.

The data covers the period from 1st April 2020 to 22nd March 2021.

Rs 79,483 crore was issued as income tax refunds.

Rs 1,34,340 crore was issued as corporate tax refunds.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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